Gold's decline is not yet complete, rebound continues to be bearish!
Gold bears have been continuously hitting new lows in recent days, and every resistance from gold bulls continues to be crushed by gold bears. Gold is still the home ground of bears, and the short-term decline in gold is not yet complete. The rebound in early trading continues to be bearish.
The 1-hour moving average of gold continues to be bearish with a dead cross downwards. The momentum of gold bears is still there, and the rebound of gold continues to be bearish. The strong resistance range of the previous box oscillation in the 1-hour period of gold is around 3017, and the early rebound of gold is under pressure. 3017 continues to hit a high point, and the rebound of gold continues to be bearish. Of course, gold has been falling sharply in recent days, and the market may begin to gradually recover. Be patient and wait for the opportunity to rebound, and do not easily chase short positions.
The market is constantly changing, and now gold is still the home ground of bears. A rebound means continuing to be bearish, drifting lightly along the trend, and going against the trend is chaotic. Gold continues to fall sharply at high levels, and bears have strong momentum. The downward trend is far from over, and a rebound in gold is giving better opportunities for bears.
Morning trading strategy:
Gold 3017 short, stop loss 3027. Target 2090-2980;
Disclaimer: The above is purely a personal opinion sharing and does not constitute operational advice. Investment carries risks, and profits and losses are borne by oneself.
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